Modern online fraud detection tools combine real-time behavioral navigation, behavioral biometrics, device attributes, network attributes and much more to detect sophisticated fraud attacks that bypass other detection tools—all while ensuring a hassle-free experience for trusted customers.
How Does Online Fraud Detection Benefit My Business?
Catch Previously Undetected Fraud Attacks
Throughout a session, every human interaction such as a swipe, mouse click, accessing account settings and overall browsing generates information. Online fraud detection uses machine learning to adapt and learn from the moment a session begins—even before login.
Improve Customer Experience
Dramatically improve customer experiences by reducing security events like CAPTCHA. The easier it is for customers to complete transactions, the less likely they are to abandon them. Online fraud detection works invisibly to protect enterprises without interrupting customer sessions.
Reduce Fraud Resolution Costs
The actual cost of fraud is often three times the amount that the fraudster got away with. Online fraud detection automatically identifies trusted users and flags suspicious activities before fraudulent activities can take place.
What Capabilities Does Ping Online Fraud Detection Offer?
Ping’s online fraud detection solution leverages:
The interactions of a user with a website or application differ between legitimate customers and fraudsters.
Continuously analyze hundreds of data points generated by the physical interactions between a human and a device in order to recognize patterns of your users. This includes mouse movements, keystroke dynamics and mobile gestures.
Identifying if a device has been tampered with or spoofed is easy, because incomplete critical behavioral data like mobile attributes will automatically raise red flags.
Fraudsters will often use unknown VPNs, Tor and proxies to mask their IP address in order to gain access to resources and applications.
How Online Fraud Detection Works
Set Up and Train Algorithms
Ping’s online fraud detection studies behavioral data to learn the patterns that reveal a user’s intent—helping fraud fighters accurately distinguish between fraudsters and legitimate customers.
Spot the Fraudsters in Real Time
Fraudsters have distinct behavioral patterns, while bots and emulators have their own distinct behaviors. Recognizing the intent behind those behaviors is the key.
Optimize and Future Proof
Ping’s online fraud detection machine learning algorithm keeps adapting to keep your business secure from new types of fraud attacks as they emerge.
Detect Bot Attacks
Bots today dominate fraudulent eCommerce and online activity. Originating as scripts performing simple, automated actions, bots have increased in sophistication and are now capable of mimicking human behavior.
Bad bots account for 25% of internet traffic. Online fraud detection provides unique pre-trained behavioral models as well as dedicated models that are trained for each enterprise and take decisive action before a transaction occurs.
Detect Account Takeover
Fraudsters use your compromised credentials to log in as you. The increasing sophistication of credential stuffing tools combined with the volume of stolen Personal Identifiable Information (PII) available online makes account takeover attacks inevitable. Online fraud detection identifies fraudsters, even when they’re using legitimate credentials.
Detect New Account Fraud
Fraudsters use fake identities to create new accounts to verify and use stolen payment details, make purchases, abuse coupons and transfer loyalty points. Without a holistic view of the customer journey, these behaviors lack context and fraud alerts won’t occur until after the incident has already happened. Online fraud detection takes the full customer journey into account for more accurate fraud detection.
Simplify Adding Fraud Detection to Your User Experience
Adding a fraud detection step without considering user experience could result in frustration or abandonment. With Ping’s real-time online fraud detection, your users won’t be bothered or interrupted while they shop and make purchases. Meanwhile, bad actors will be detected to keep your business revenue safe.
Ping’s orchestration capabilities can be utilized to rapidly build, test and optimize user journeys in order to integrate fraud detection right alongside identity verification and authentication services. This is done to eliminate disruption and enhance user experience while keeping them—and your business—secure.
Fast and Easy Cloud Deployment
Fraudsters use increasingly sophisticated tools and techniques to rapidly adapt what they do in response to more advanced fraud fighting tools. They don’t wait and neither should you. A cloud service for modern online fraud detection works well with your Identity and IT stacks—allowing for a simple, smooth implementation. Your business can detect online fraud, enhance your customer experience and enable faster time to value today.
Ping Products That Enable Online Fraud Detection
Ping Products That Enable Online Fraud Detection
Cloud-based online fraud detection for e-commerce applications
Learn How Ping Helped Gett Solve Five Evolving Fraud Use Cases with Just One Solution
Gett has increased detection of suspicious activities that were invisible to legacy fraud detection tools by more than 120 percent. With each new generation of fraud, Ping captured increasing numbers of suspicious events. By detecting new account fraud with emulators, fraud detection within Gett’s enterprise increased by 62 percent.